Vice President Kamala Harris delivered a speech at the Congressional Hispanic Caucus Institute’s 47th Annual Leadership Conference, addressing the economic struggles of working families and her administration's approach to corporate accountability.

Harris promised to crack down on corporate price gouging and outlined her plan to raise the corporate tax rate to fund critical resources for families, while also reiterating a strange turn of phrase many have used to point out her seeming inability to deliver cogent messages, as Fox News reports.

During the speech, Harris emphasized her belief in the need to help American families by lowering grocery costs and tackling corporate practices that inflate prices. She pointed to price gouging as a key issue her potential administration plans to address, particularly in times of economic strain, such as during natural disasters or emergencies like the COVID-19 pandemic.

However, Harris admitted that the number of corporations involved in price gouging is small. "It’s very few of them that do this," she said, acknowledging the limitations of targeting these practices. Nevertheless, she stressed that action must still be taken to ensure families are not further burdened during times of crisis.

Harris Pledges to Help Families

Harris’s remarks at the Washington, D.C. event focused on the well-being of families, as she expressed the importance of providing the necessary resources to support children. She spoke about her upbringing and the values she learned, noting in a bizarre turn of phrase, "The children of the community are the children of the community," apparently emphasizing her belief in a collective responsibility to provide for future generations.

While Harris highlighted the need for economic support, she did not provide specific details about how her administration plans to implement these initiatives. She described her approach to assisting families but left questions regarding the actual steps her administration would take to make groceries and other essentials more affordable.

Harris Proposes Raising Corporate Taxes

The vice president's economic plan includes a proposal to raise the corporate tax rate from the current 21% to 28%, a significant increase that she describes as necessary to ensure that large corporations contribute fairly to the economy. The idea, according to Harris, is to redistribute wealth in a way that puts more money into the hands of working families while preventing billionaires and corporations from avoiding their tax obligations.

This tax proposal is less aggressive than Harris's 2020 campaign stance when she supported a corporate tax rate of 35%. However, she maintains that the current plan is fiscally responsible and will generate funds to address important societal needs.

Economic Impact of Harris’s Tax Plan

According to the Tax Foundation, Harris’s tax proposal could raise $4.1 trillion over the next decade, between 2025 and 2034. This massive influx of revenue, she argues, would help fund resources for families, healthcare, and other critical services.

However, not all the projections are positive. The Tax Foundation's analysis suggests that Harris’s tax plan may lead to a reduction in the U.S. GDP by 2%, resulting in long-term economic consequences. Wages could also decline by 1.2%, with the potential loss of approximately 786,000 jobs. Critics argue that while Harris’s plan may increase federal revenues, it could come at a significant cost to the overall economy and workforce.

Harris Acknowledges Corporate Misconduct is Limited

While calling for an end to corporate price gouging, Harris was careful to specify that only a small fraction of companies engage in this behavior. She made it clear that most corporations are not guilty of price manipulation, but that her administration would still target those few that are.

During her speech, Harris cited the challenges families face during emergencies, pointing to recent extreme weather events and the COVID-19 pandemic as examples of where companies may have taken advantage of desperate circumstances to increase prices.

"We need to take that on," she said, reinforcing her commitment to addressing this issue, even if it implicates only a minority of corporations.

Focus on Resources for Families

Throughout her remarks, Harris consistently returned to the theme of supporting families, though without providing concrete steps on how these resources would be delivered. She emphasized that ensuring families have what they need, particularly in terms of basic necessities, is essential to her administration's broader economic agenda.

Despite the absence of detailed policy measures, Harris framed her economic plan as a moral imperative, advocating for a system that helps children and families thrive.

Harris Balances Policy and Values

In addition to outlining her economic policy, Harris also spoke about what she said were personal values, shaped by her upbringing. She used her speech to reinforce the idea that the well-being of children and families should be a national priority, tying this message to her broader economic proposals.

Her statement, "The children of the community are the children of the community," has drawn criticism, as it is not the first time she has offered that arguably nebulous observation.

Outlook on Harris’s Economic Plan

Harris’s proposed tax increases and focus on corporate accountability reflect her administration’s vision of a more equitable economy. However, the potential consequences, such as reduced GDP and job losses, raise questions about the broader impact of her policies.

As the vice president continues to campaign for these changes, the debate over whether her approach will truly benefit American families remains ongoing. For now, Harris remains committed to advancing her economic agenda, even amid criticisms and concerns about its feasibility.